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Flamingo (FLM) Token Farming Will Begin Shortly, With a New Binance Launchpool Format
Binance
2020-09-26 13:21
Fellow Binancians,
The farming period for Flamingo (FLM) tokens will begin in approximately 11 hours at 2020/09/27 0:00 AM (UTC).
Users can stake their BNB or BUSD tokens into the FLM pools now in preparation for the start of farming if they wish, but will not receive rewards until 2020/09/27 0:00 AM (UTC).
Binance will then list FLM at 2020/09/28 7:00 AM (UTC) into the Innovation Zone and open trading for FLM/BTC, FLM/BNB, FLM/BUSD and FLM/USDT trading pairs.
Supported FLM Pools:
  • Stake BNB: 5,625,000 FLM in rewards (90%)
  • Stake BUSD: 625,000 FLM in rewards (10%)
New Binance Launchpool Format:
Starting with FLM, all future Launchpool projects will be moved from Binance Savings to the Binance Launchpad home page, allowing users to freely allocate their BNB, BUSD or other supported tokens into separated pools to earn rewards. Please note the following:
  • Snapshots of user balances and total pool balances will be taken each hour to calculate user rewards, which will also be updated each hour.
  • Users will be able to accumulate their rewards (calculated each hour) and claim these rewards directly to their spot accounts at any time.
  • Each pool’s annual percentage yield (APY) and total pool balance will be updated in real time.
  • Tokens can only be staked in one pool at a time. For example, User A cannot stake the same BNB into two different pools at the same time, but can allocate 50% of their BNB into pool A and 50% in pool B.
  • Users will be able to unstake their funds at any time with no delay and participate in any other available pools immediately.
  • BNB staked into Launchpool will still provide users with the standard benefits for holding BNB, such as airdrops, Launchpad eligibility and VIP benefits.
BEL & WING Launchpools
During the transition phase to a standalone Launchpool page, the BEL and WING Launchpools will continue to be on Binance Savings. Users that deposit their BNB or BUSD into the respective Flexible Savings products will still earn both BEL and WING, but will not earn FLM.
Please note that to participate in farming FLM, users will need to redeem their BNB or BUSD and stake into the FLM pools.
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make best efforts to choose high-quality coins, but will not be responsible for your trading losses.
Thanks for your support!
Binance Team
2020/09/26
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